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The classical model of international lawmaking posits governments as exclusively authoritative actors. However, commercially-oriented entities have long been protagonists within the prevailing international legal order, concluding contracts and resolving disputes with governments. Is the international legal personality of corporations undergoing further qualitative transformations ? Corporations influence the State practice constitutive of custom and create, refashion or challenge normative rules. The corporate willingness to fill legal lacunae where governments do not exercise their full regulatory responsibility is also observable through resort to alternative legal mechanisms. Corporations moreover contribute directly to treaty negotiations and occupy crucial roles during subsequent implementation. Indeed, an analysis of the access conditions and participatory modalities for non-State actors could support a right to participate under common international procedural law. Their substantive contributions are also evident when corporations participate in enforcing international law against governments through national courts, diplomatic protection (including the WTO) and arbitration (including NAFTA). However, the practice of intergovernmental organizations reveals several challenges including managing corporate interaction with developing country governments and other non-State actors. Acknowledging corporate contributions also has important implications for national regulatory autonomy, the ability of governments to mediate contested policy issues, the democratic legitimacy of the contemporary lawmaking process and an understanding of consent as the underlying basis for international law.
Contents include MNCs and the Development Plan; Justification Analyses; Indonesian Foreign Investment Law; Measuring Success; The Pursuit of Partners in Development, in the Indonesian context.
This paper presents key finding of the Financial System Stability Assessment for the Republic of Korea, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and Payment Systems. Korea has achieved a high degree of observance of key standards and codes through newly revised laws and competent supervision. However, supervisory independence could be strengthened to improve the ability to provide authoritative guidance and interpretation. Reform of the banking sector has restored profitability and improved its strength and resilience.
Transnational corporations (TNCs) have moved to the forefront of regulatory governance both within states and in the international arena. The Research Handbook on Transnational Corporations provides expert background commentary and up-to-date insights into regulatory frameworks impacting on TNCs at global, industry and national levels. Written by global experts in their field, this unique collection of essays provides in-depth understanding of how the forces of globalisation affect the world’s largest corporations, and how those corporations, in turn, shape globalisation.
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.